Wilmington, Delaware, Oct. 27, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “U.S. Pearlescent Pigment Market by Application (Cosmetics and Personal Care, Others): Country Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the U.S. Pearlescent Pigment industry generated $204.62 Million in 2021, and is anticipated to generate $353.4 Million by 2031, witnessing a CAGR of 5.7% from 2023 to 2031.
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Prime determinants of growth
The U.S. Pearlescent Pigment market is driven by the increasing demand for pearlescent pigment from cosmetics and personal care industry However, increase in veganism restrains the demand for natural pearl essence, and thereby hinders the U.S. pearlescent pigments market growth during the forecast period. Nevertheless, product launches and innovation associated with pearlescent pigment are anticipated to offer ample growth opportunities for the market growth in coming years.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $204.62 Million |
| Market Size in 2031 | $353.39 Million |
| CAGR | 5.74% |
| No. of Pages in Report | 104 |
| Segments covered | Application |
| Drivers | Increase in demand for pearlescent pigment from cosmetics and personal care industry Growth in cosmetics & personal care industry |
| Opportunities | Product Innovation |
| Restraints | Rise in veganism hinders the demand for natural pearl essence |
Covid-19 Scenario
- The COVID-19 pandemic resulted in a decrease in output of the market for pearlescent pigments, although the demand was unaffected. The U.S. cosmetics industry including color cosmetics, skin care, hair care, fragrances, and personal care was impacted by the COVID-19 crisis. It was challenging to deliver crucial personal services to sell cosmetics and personal care products online, such as product testing and skin color matching. Meanwhile, working from home, wearing masks, and other lifestyle changes have resulted in a significant shift in U.S. consumers’ demand for cosmetics and personal care products as the pandemic continues.
- Despite the massive challenges caused by COVID-19, the U.S. cosmetics & beauty retail market is not too depressing. For instance, the retail sales revenue of cosmetics & beauty products in the country only fell 2.5% in 2020 from the year prior in 2019. As per Style Sage, consistent with the sales data, unlike fashion sectors such as footwear and clothing, the U.S. cosmetics & beauty retailers actually offered more products during the COVID-19 crisis in order to meet consumers’ shifting demands.
- For instance, U.S. cosmetics & beauty retailers newly launched over 101K cosmetics & beauty items (at the SKU level) to the market from March 1, 2020 to May 31, 2021, up more than 160% from the pre-COVID period (i.e., December 1, 2018 to February 29, 2020). U.S. cosmetics & beauty companies also leveraged new social media platforms such as TikTok and video reviews in order to reach new consumers and significantly expanded their digital presence. Further, the U.S. cosmetics & beauty companies adopted unique product assortments during COVID-19.
- Besides, various cosmetics & beauty companies’ new product offer prioritized three categories, such as fragrance (up 226.3%), skincare (up 165.6%), and haircare (up 150.9%). Skincare products and fragrances also accounted for higher shares of companies’ total cosmetics & beauty product offers in order to cater to consumers’ shifted demand during the pandemic. Consequently, the above mentioned factors are predicted to propel the demand for pearlescent pigments in cosmetics & personal care applications in the U.S.
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The others segment to maintain its lead position during the forecast period.
Based on application, the others segment accounted for the largest share in 2021, contributing to more than four-fifths of the U.S. Pearlescent Pigment market revenue, and is projected to maintain its lead position during the forecast period. Other applications of pearlescent pigments include paints and coatings, plastics, printing ink, resin art, graphic arts, aerated concrete, leathers, textile printings, electronics products, household appliances, rubbers, paper and pulps, food, packaging and many more. Pearlescent pigments in paints and coatings provide color, opacity, gloss control, rheological control, and other services such as corrosion inhibition or magnetic moment. They also help to lower coating costs by acting as a volume filler.
Printing inks are also used to print on packaging materials to make the package attractive to buyers, as it is one of the powerful techniques to sell items which is largely utilized in printing publications for newspapers, periodicals, and journals. Pearlescent pigments are utilized in face tissue paper, envelope grades, cover papers, corrugated cases, and specialized papers where it provides unsurpassed performance in brightness and cooler play.
The cosmetics and personal care segment is projected to grow at a CAGR of 6.31% from 2022 to 2031. Pearlescent pigments are used to impart color, luster, and shine to a variety of color cosmetics and personal care products. Pearlescent pigment micas can be added to skin or body care products to give shine and color. Pearlescent pigments improve beauty by adding a fascinating glitter and depth to powders, eye shadows, nail polishes, hair care products, and shower gels, which offers new possibilities and proving vitality in cosmetic production.
Leading Market Players: -
- BASF SE
- ECKART GmbH
- SUN CHEMICAL
- IFC SOLUTIONS
- KUNCAI AMERICAS
- SENSIENT TECHNOLOGIES CORPORATION
- DIC CORPORATION
- KP PIGMENTS
- MERCK KGAA
- Glitter Unique, LLC
- SANDREAM SPECIALTIES
The report provides a detailed analysis of these key players in the U.S. Pearlescent Pigment market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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